Friday, January 04, 2013

MMJV: Golpu feasibility study to start in July

By
MALUM NALU

Morobe Mining Joint Ventures (MMJV) anticipates a
feasibility study on the giant Golpu copper-gold project in Morobe province
gold project to begin in the July quarter of this year, according to general
manager-sustainability and external relations David Wissink.

He said this yesterday when asked to comment on what
major plans the company has for this year.

“With Wafi- Golpu the focus is on discussions with
stakeholders on the Golpu pre-feasibility study (PFS) which was finished last
year,” Wissink told The National.

“After these consultations take place and a final
nod from the joint venture partners (Newcrest and Harmony), we anticipate the
project team being in a position to start the feasibility study in the July
quarter of this year.”

Wissink said the plan called for 24 months for the
feasibility study for just Golpu copper and gold, as Wafi was a separate ore
body (gold cap) which was being studied at present.

Harmony and Newcrest last October announced a
significant upgrade to the ore reserve estimate for the Golpu copper-gold deposit,
following the completion of a technical PFS.

Prime Minister Peter O’Neill (second from
right) listens to a geologist explains
the reserves for the Wafi-Golpu project during a sire visit last
October.-Picture courtesy of MMJV

The PFS supports an updated ore reserve estimate
containing 12.4 million ounces of gold and 5.4 million tonnes of copper.

The study also confirms Golpu as a world‐class deposit with an
expected mine life of more than 25 years.

Wissink said this year MMJV planned to create value
for its shareholders and stakeholders.

Shareholders are Newcrest and Harmony, while
stakeholders are landowners, Bulolo local level governments, Bulolo and Huon
Gulf districts, and Morobe province.

“We’ll do that by safely, and in an environmentally-sound
manner, improving production and plant throughput at Hidden Valley, progressing
Golpu to feasibility stage and continuing our exploration programme focusing on
some exciting prospects in Huon Gulf and Bulolo districts.

“Another core part of the MMJV business is community
engagement and on this side of the business, we have extensive consultation programmes happening
with the Wafi – Golpu project, an MOA (memorandum of agreement) review for Hidden Valley at some point in the
first half of the year, and of course the continuation of our community and
regional development programs including the Watut River footbridge projects,
community malaria programme in partnership with the Oil Search Health
Foundation, education programmes and agriculture focusing on cocoa, coffee and
fresh produce.”

Regarding, MMJV’s other project at Hidden Valley,
Wissink said: “Hidden Valley is still ramping up production as it takes time to
get all the moving parts of a mine (including people) working as efficiently as
possible.

“The environmental side of the operation is doing
fine with the tailings storage facility performing as planned.”

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